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Impact Investing: The Lingo

Impact Investing is an investment strategy that seeks to create a positive social and / or environmental change while also generating a financial return. People interested in impact investing have expressed to us confusion over the many acronyms and terms used. This is our first post in a series on impact investing where we focus on demystifying the most common lingo. ESG stands for Environmental, Social and corporate Governance. The ESG factors were developed as a way to categorize areasRead More

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The Tax Implications of Donation-Based Crowdfunding

Are you considering setting up a crowdfunding campaign for yourself, or someone you know, to help pay for medical bills, tuition, or raise money for a cause? While there are different types of crowdfunding, we address donation-based crowdfunding in this post since it is the kind we see most often. Money received from donation-based crowdfunding should be considered gifts, and therefore non-taxable. However, payment processors used by crowdfunding sites, such as Paypal, may issue a Form 1099-K to the recipientRead More

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Ask Linda: Gifting Stock to my Child

Dear Linda, I am a widow and want to gift some of the individual, concentrated stock in my brokerage account to my only child, my adult son. I am tired of managing the stock and feeling like I need to stay on top of the earnings reports, news, etc. I would rather gift it to him and have the rest of my portfolio in low-cost, diversified positions. The stock has a very low basis and will incur a large amountRead More

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Does your tax return contain an IRS red flag?

If your 2017 return contains one or more of these red flags, you have a higher likelihood of receiving some sort of correspondence from the IRS. Don’t panic. You just need to double check your numbers and confirm you are organized with your documentation. You should be doing this regardless, but you may find it useful to know where to be extra careful. Red flag #1: Page 1 of the 1040, Other Income (line 21), is filled out This lineRead More

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A Newlywed’s Guide to Updating Insurance

A lot of things change when you get married, including your insurance options. Making sure your insurance is adequate once you are married is an important step to take. You have the option of buying new, combining, and/or discontinuing policies you will no longer need. Here are the insurance coverages we recommend you review or consider purchasing once married. Life Insurance After you say “I Do”, you might need to increase your life insurance coverage. The bills you would leave your spouse with include,Read More

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Tax Planning for 2018

The TCJA (Tax Cuts and Jobs Act) passed in late 2017 affects your tax planning for 2018. We highlighted the changes that are most likely to pertain to our clients. The information is general in nature, and not a substitute for individual and customized tax advice from your tax preparer. 1) Some retirement plan contributions have increased. If you contribute to a TSP, 401k, or 403b, you may be eligible to increase your savings. The limit is now $18,500 versusRead More

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